Vulcan Value Partners LLC cut its position in shares of MillerKnoll, Inc. (NASDAQ:MLKN – Free Report) by 36.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 838,151 shares of the company’s stock after selling 486,458 shares during the quarter. MillerKnoll accounts for about 0.5% of Vulcan Value Partners LLC’s investment portfolio, making the stock its 25th largest holding. Vulcan Value Partners LLC owned about 1.22% of MillerKnoll worth $17,149,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in MillerKnoll in the 2nd quarter valued at approximately $213,054,000. Renaissance Technologies LLC acquired a new position in MillerKnoll during the 1st quarter valued at about $2,692,000. Hsbc Holdings PLC raised its position in shares of MillerKnoll by 240.9% during the 4th quarter. Hsbc Holdings PLC now owns 80,559 shares of the company’s stock worth $1,488,000 after buying an additional 56,927 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of MillerKnoll in the 2nd quarter worth approximately $62,049,000. Finally, Empowered Funds LLC increased its stake in shares of MillerKnoll by 21.3% during the first quarter. Empowered Funds LLC now owns 315,409 shares of the company’s stock valued at $4,561,000 after acquiring an additional 55,313 shares during the period. 87.50% of the stock is owned by institutional investors and hedge funds.
MillerKnoll Trading Down 3.1%
MLKN traded down $0.71 during trading on Tuesday, reaching $22.21. The company had a trading volume of 593,513 shares, compared to its average volume of 740,798. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.90 and a current ratio of 1.58. MillerKnoll, Inc. has a 12-month low of $13.77 and a 12-month high of $24.71. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.95 and a beta of 1.36. The firm’s 50-day simple moving average is $22.42 and its 200 day simple moving average is $18.88.
MillerKnoll Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Saturday, August 29th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, August 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.4%. MillerKnoll’s payout ratio is currently 56.82%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on MLKN. Weiss Ratings raised MillerKnoll from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered MillerKnoll from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Zacks Research upgraded shares of MillerKnoll from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Check Out Our Latest Stock Report on MillerKnoll
MillerKnoll Company Profile
MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.
Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.
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